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BASICS:
Costs
No other black market in North Africa offers better rates than the one in Libya, running at up to 10 times the official rates. There is some risk involved in using it, so discretion, and a reserved attitude is vital. When you travel in Libya you might as well forget your credit cards, and traveller's checks at home. Despite all historical tension, US$ dollars is by far the most popular currency in Libya, but is quickly being replaced by the more stable Euro. Some of the better hotels will insist that you pay in foreign currency, and then according to the official exchange rates. Changing money in banks are straight-forward.
If you stick to official exchange rates, Libya is one of the world's most expensive countries. At black market rates, though, Libya is ready for a splurge.
The currency of Libya is dinar, divided into 1,000 dirhams. Notes are 0.25, 0.50, 1, 5, and 10 dinars. Coins are seldomly used, but found in 10, 100, and 250 dirhams.
| US$ 1=1.270 dinar |
1 dinar=US$ 0.79 |
| € 1=1.750 dinar |
1 dinar=€ 0.57 |
| £ 1=2,580 dinar |
1 dinar=£ 0.39 |
| International exchange rates as of July 11, 2007. |
© Copyright 1996-2008 LookLex Ltd. All rights reserved
By: Tore Kjeilen
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